Thursday, 2 June 2022, 17:55 HKT/SGT

HONG KONG, June 2, 2022 - (ACN Newswire) - Solomon Systech (International) Limited ("Solomon Systech"; HKG: 2878), a leading semiconductor group, provides integrated circuit (IC) products and system solutions. Adopting a "fabless" business model, Solomon Systech specializes in the design, development and sales of IC products and system solutions that enable a wide range of display and touch applications for smartphones, tablets, TVs/monitors, notebooks and other smart devices, including wearables, electronic shelf labels ("ESL"), healthcare devices, smart home devices, as well as industrial appliances. The Group recently was honored with the "The Listed Enterprise Excellence Awards 2021 - Outstanding Financial Performance Award" which recognizes the Company's outstanding financial performance in 2021.

Mr. HO Yiu Hong, Victor (left), Finance Director and Company Secretary of Solomon Systech, received "The Listed Enterprise Excellence Awards 2021" on behalf of the Group

"The Listed Enterprise Excellence Awards 2021" was hosted by "Capital Platform HK" to recognize listed enterprises with rapid growth in financial performance and far-reaching economic contributions. The 13 award-winning enterprises are strictly selected by the Editorial Committee of Capital to acknowledge their outstanding achievements based on their outstanding financial performance, future prospects to deliver excellent stories and to bring sustainable returns to investors. The award ceremony of "The Listed Enterprise Excellence Awards 2021" was honored to have Mr. KP Chan, GBS, JP, a member of the Legislative Council to be the officiating guest to deliver the speech and present the awards.

Solomon Systech has achieved brilliant performance in 2021, made a record high shipment quantity of over 395.7 million units and reached a sales revenue of US$168.1 million, an increase of over 38.6% as compared to that of 2020. The Group's average gross profit margin was significantly improved by over 10.4 percentage points to 40.0% in 2021 from 29.6% in 2020. Profit attributable to the owners of the parent increased by over 103.0% to US$23.8 million, and earnings per share was 1.0 US cents, up 100% from 2020.

Mr. HO Yiu Hong, Victor, Finance Director and Company Secretary of Solomon Systech attended the award ceremony and said, "We are honored to receive "The Listed Enterprise Excellence Awards 2021" which affirms the market's recognition of Company's financial performance and contribution to technology innovation. Under the enduring efforts of our colleagues and the continuous support of business partners, the Company achieved an excellent result in 2021. The Award highlights the significance of "Technology and Innovation" to human well-being and development. "Technology and Innovation" plays an increasingly important role in the economic development and the advancement of any society."

Topic: Press release summary Sectors: Electronics
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